Guggenheim Has Lowered Expectations for Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price target decreased by Guggenheim from $18.00 to $12.00 in a research note released on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research firms have also issued reports on PHAT. HC Wainwright lowered their target price on Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. The Goldman Sachs Group lowered their price target on Phathom Pharmaceuticals from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $18.67.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $2.76 on Friday. The firm’s 50 day moving average price is $4.96 and its 200 day moving average price is $7.82. Phathom Pharmaceuticals has a twelve month low of $2.71 and a twelve month high of $19.71. The firm has a market cap of $192.23 million, a PE ratio of -0.49 and a beta of 0.35.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in Phathom Pharmaceuticals by 20,997.1% during the 1st quarter. CWM LLC now owns 7,384 shares of the company’s stock worth $46,000 after buying an additional 7,349 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Phathom Pharmaceuticals by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 114,535 shares of the company’s stock valued at $718,000 after acquiring an additional 11,787 shares during the last quarter. GAMMA Investing LLC increased its position in Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares during the period. Kera Capital Partners Inc. lifted its position in Phathom Pharmaceuticals by 11.2% during the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock valued at $187,000 after purchasing an additional 3,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Phathom Pharmaceuticals by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock valued at $957,000 after purchasing an additional 19,778 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.